Dmitry Vasilyev said Mosenergo's board is expected to consider and approve the transfer and the list of investors October 30, adding that the additional share issue is expected in March-April 2007.
Mosenergo is Russia's largest territorial generating company, supplying 80% of Moscow's heating requirements and 85% of power demand in the capital and the Moscow Region.
UES, which currently holds a 50.87% stake in Mosenergo, while Gazprom owns 25% of its shares, will retain a controlling stake of 25% plus one share after the additional share issue, according to a board decision, which must be approved at a shareholders' meeting in December.
Mosenergo Director General Anatoly Kopsov said last week that funds raised from the issue will be used to develop Moscow's energy network, adding that the energy supply system in the area was in need of major improvement.
UES said earlier that Mosenergo's investment projects include the construction of four new gas-vapor power units. The majority of Mosenergo's plants are gas-fuelled.
The company has 17 power plants in the region, with electric power capacity of 10,600 MWt and heat capacity of 34,200 Gkal/hour.
